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The USDA afternoon cattle report from March 17 shows Kansas and Nebraska cash fed steers trading at $164 live and $264 dressed, about $1 lower than the prior week. The March 1 Cattle on Feed report showed 11.6 million head on feed, down 4% from a year earlier, and February placements were 7% below last year.
Lower on-feed numbers and reduced placements signal tighter fed cattle supplies, which support cattle prices even as cash trade eased slightly this week.
greatamericancrop.comMar 17, 2023After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
